BlueOrange redeems subordinated bonds issued by the Bank before maturity
May 29, 2018
In November 2012, BlueOrange (AS Baltikums Bank at the time) made two bond issues – for EUR 3 200 000 (BALTIKUMS EUR SUB 6 11/12/2019 LV0000801074) and USD 880 000 (BALTIKUMS USD SUB 6 11/12/2019 LV0000801082) at par with the maturity date of November 12, 2019, and the coupon rate of 6% per annum.
At present, the Bank has redeemed its subordinated bond issue before the maturity.
The decision on early redemption of subordinated bonds is in line with the Bank’s business strategy and indicates good capital adequacy indicators, as this is one of the main conditions for obtaining a permit for early redemption from the FCMC.